Anavex Life Sciences (NASDAQ:AVXL) Releases Earnings Results, Hits Estimates

Anavex Life Sciences (NASDAQ:AVXL) issued its quarterly earnings results on Tuesday. The biotechnology company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08), FiscalAI reports.

Anavex Life Sciences Price Performance

Shares of AVXL stock opened at $3.24 on Thursday. The company has a market cap of $300.35 million, a P/E ratio of -21.60 and a beta of 1.15. The stock’s 50-day moving average is $2.82 and its 200 day moving average is $3.24. Anavex Life Sciences has a 1-year low of $2.26 and a 1-year high of $10.40.

Analyst Upgrades and Downgrades

AVXL has been the topic of several research analyst reports. Weiss Ratings downgraded Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Rodman & Renshaw started coverage on Anavex Life Sciences in a research report on Monday, May 4th. They set a “buy” rating and a $20.00 target price for the company. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Anavex Life Sciences has an average rating of “Hold” and an average target price of $21.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC purchased a new stake in Anavex Life Sciences during the 4th quarter worth approximately $104,000. NewEdge Advisors LLC boosted its holdings in shares of Anavex Life Sciences by 1,636.2% in the 4th quarter. NewEdge Advisors LLC now owns 28,231 shares of the biotechnology company’s stock valued at $101,000 after acquiring an additional 26,605 shares during the last quarter. XTX Topco Ltd boosted its holdings in Anavex Life Sciences by 21.2% in the fourth quarter. XTX Topco Ltd now owns 99,058 shares of the biotechnology company’s stock valued at $353,000 after purchasing an additional 17,356 shares during the last quarter. Man Group plc grew its holdings in Anavex Life Sciences by 126.5% during the fourth quarter. Man Group plc now owns 55,223 shares of the biotechnology company’s stock worth $197,000 after acquiring an additional 30,838 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Anavex Life Sciences during the 4th quarter worth approximately $164,000. 31.55% of the stock is currently owned by hedge funds and other institutional investors.

About Anavex Life Sciences

Anavex Life Sciences Corp is a clinical‐stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma‐1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company’s lead product candidate, blarcamesine (ANAVEX2‐73), is a small‐molecule activator of the sigma‐1 receptor currently being evaluated in clinical trials for Alzheimer’s disease and Parkinson’s disease dementia.